Tisco Financial Group Public Co. Ltd. · SET:TISCO
Tisco Financial Group Public — Q1 2024 Earnings Presentation
19 slides from Tisco Financial Group Public's earnings presentation, Apr 17, 2024
Slide 1: TISCO Financial Group Analyst Meeting 1Q2024
TISCO Financial Group Public Co., Ltd. Analyst Meeting 1Q2024 April 17, 2024
Slide 2: Profit softened amid cost of funds pressure, weak fee income and stepping up ECL
Profit softened amid cost of funds pressure, weak fee income and stepping up ECL Consolidated Income Statements Unit : Million Baht 1Q23 4Q23 1Q24 % QoQ % YoY Interest Income 4,070 4,776 4,774 (0.0) 17.3 Interest Expenses (847) (1,273) (1,378) 8.2 62.6 Net Interest Income 3,223 3,502 3,395 (3.0) 5.4
Slide 3: Well-managed balance sheet
Well-managed balance sheet Assets Liabilities Unit: Million Baht Unit: Million Baht -2.9% -4.1% QoQ QoQ Unit : Million Baht 2022 2023 1Q24 % QoQ Unit : Million Baht 2022 2023 1Q24 % QoQ Loans 219,004 234,815 235,218 0.2 Deposits & Borrowings 198,983 220,891 212,124 (4.0) Allowance (11,845) (9,916) (
Slide 4: Continuing loan growth amid cautious loan underwriting
Continuing loan growth amid cautious loan underwriting Loan Portfolios Unit: Million Baht +0.2% Retail Loans QoQ -1.3% QoQ Corporate Loans +1.8% QoQ Loans by sectors SME Loans +10.4% QoQ 4
Slide 5: Shifting focus to high-yield businesses
Shifting focus to high-yield businesses Composition of Retail Loans Unit: Million Baht HP New Car HP Used Car HP Auto Cash Housing Loan Other Retail Motorcycle Loans -3.0% QoQ +2.5% QoQ +0.4% QoQ -4.8% QoQ +4.2% QoQ +5.8% QoQ 5
Slide 6: Increasing consumer loan accessibility through Somwang channel
Increasing consumer loan accessibility through Somwang channel Auto Cash Loans Unit: Million Baht Auto Cash +0.4% QoQ Somwang +2.5% QoQ Loan Generated through Somwang channel Somwang Branches 6
Slide 7: Weak domestic car sale due to tightened underwriting
Weak domestic car sale due to tightened underwriting Industry New Car Sale TISCO’s Auto HP Penetration Rate TISCO’s Penetration Rate (%) Industry Car Sale (‘000 units) Industry Car Sale -21.5% YoY 7
Slide 8: Pressure from rising cost of funds compressed loan spread & NIM going forward
Pressure from rising cost of funds compressed loan spread & NIM going forward Change Change YoY QoQ Yield on Loans +39 bps +2 bps Loan Spread -42 bps -14 bps NIM -14 bps -19 bps Cost of Funds +81 bps +15 bps Unit: Million Baht 2021 2022 2023 4Q23 1Q24 Loan Outstanding 202,950 219,004 234,815 +7.2% 2
Slide 9: Increasing NPLs amid a growth in high-yield loans
Increasing NPLs amid a growth in high-yield loans Loan Classification Non-Performing Loans Unit: Million Baht Unit: Million Baht NPLs Stage 2 Stage 1 NPLs by Loan Types Mortgage Auto Cash Hire Purchase SME Other Retail Corporate 9
Slide 10: Stepping up ECL expense to absorb higher risks amid fragile economy
Stepping up ECL expense to absorb higher risks amid fragile economy Expected Credit Loss Unit: Million Baht Allowance for ECL Unit: Million Baht Coverage Ratio Expected Credit Loss (ECL) 10
Slide 11: Maintained sufficient funding base to support growth
Maintained sufficient funding base to support growth Total Funding Unit: Million Baht -4.0% QoQ Unit : Million Baht 2022 2023 1Q24 % QoQ Current 1,821 1,529 1,736 13.5 Savings 42,930 28,988 27,017 (6.8) Fixed Deposits 143,515 178,128 179,834 1.0 Short-Term Bill of Exchanges 37 36 36 - Senior Debentu
Slide 12: Slow recovery in fee-based businesses caused by fragile economy and weak sentiment
Slow recovery in fee-based businesses caused by fragile economy and weak sentiment Non-Interest Income from Core Businesses Non-Interest Income from Core Businesses Breakdown Data as of 3M2024 Unit: Million Baht -5.1% -7.9% QoQ YoY Unit : Million Baht 1Q23 4Q23 1Q24 % QoQ % YoY Ba nki ng Fee 801 888
Slide 13: AUMs grew along with increased contributions
AUMs grew along with increased contributions Assets Under Management Unit: Million Baht Rank # 1 +1.2% Provident Fund QoQ +1.2% QoQ Rank #14 Mutual Fund +2.4% QoQ Rank #9 Rank #6 Private Fund +0.2% QoQ 13
Slide 14: Trading volume remained subdued while TISCO's market share improved
Trading volume remained subdued while TISCO’s market share improved TISCO Trading Volume & Market Share Unit: Million Baht Trading Volume by Customers 14
Slide 15: OPEX decreased after seasonal effect in last quarter
OPEX decreased after seasonal effect in last quarter Operating Expenses Unit: Million Baht Cost to Income Ratio -3.8% -0.8% QoQ YoY Unit : Million Baht 1Q23 4Q23 1Q24 % QoQ % YoY Employee Expens es 1,570 1,600 1,537 (4.0) (2.1) Premis es & Equipment Expens es 188 202 207 2.4 10.2 IT Expens es 187 20
Slide 16: Maintained solid capital level and exceeded BOT's requirement
Maintained solid capital level and exceeded BOT’s requirement Capital Base of TISCO Bank Unit: Million Baht Capital Adequacy Ratio BIS Ratio Tier I Ratio Min. Required by BOT 11.0% BIS Ratio 8.5% Tier I Ratio *Projected figures 16
Slide 17: Continued to expand Somwang staff and network as part of TISCO's long-term plan
Continued to expand Somwang staff and network as part of TISCO’s long-term plan Total Employees Number of Employees Total Branch Network Somwang Loan Offices Bank Branches 17
Slide 18: Investor Relations
Investor Relations TISCO Financial Group Public Company Limited 48/49 TISCO Tower, North Satorn Road, Silom, Bangrak, Bangkok, 10500, Thailand +(66) 2633 6868 +(66) 2633 6855 ir@tisco.co.th www.tisco.co.th Disclaimer This presentation material may contain forward-looking statements. These forward-lo
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